Why the European Debt Crisis Is Likely to Get Worse

The debt crisis in the Eurozone is getting no better, even in the wake of the new year. The five countries in the Eurozone with the highest debt-to-GDP ratio in the third quarter of 2018 were Greece, Italy, Portugal, Belgium, and Spain. The total debt of Greece is around 182.2 percent of its GDP and that of Italy is 133 percent, according to Statista. Although giant economies like the US and Japan have been running huge debts for years, it is yet to be seen what waits on the other end of the tunnel.